Amtrak says 2,400 jobs could be cut without government bailout

  • Amtrak said Thursday that it could be forced to cut spending that could result in the loss of another 2,400  jobs in total.
  • Amtrak told Congress last month that it would need $4.9 billion in government funding as the pandemic continues to wreck the nation’s economy.
  • The US passenger railroad service already said in September that it was cutting 2,000 jobs.
  • Visit Business Insider’s homepage for more stories.

U.S. government-supported passenger railroad Amtrak said on Thursday that without a new government bailout it could be forced to cut more spending and train services which could lead to the loss of another 2,400 jobs.

Amtrak last month told Congress it needs up to $4.9 billion in government funding for the current budget year, up from the around $2 billion in annual support it usually receives.

The railroad, which said last month it was cutting 2,000 jobs, said on Thursday that without

Read More

Racecourse group steps up calls for UK government bailout of sports

The Jockey Club has stepped up calls for a UK government rescue of sports akin to the £1.5bn bailout for the arts industry.

Nevin Truesdale, group chief executive, said “we need the government to step in and provide direct support” for horseracing and the wider sporting community, citing the package for the arts announced in July. He pointed to the pandemic impact on revenues and the potential for widespread job losses without aid.

The government’s decision to halt plans to reopen stadiums this month has been met with frustration across British sport. Racecourse revenues have been hit hard by the absence of spectators at meetings, hurting their ability to continue providing race prize money.

Venue owners have urged the government to give greater clarity on when courses can reopen to spectators to help them navigate the crisis.

The Jockey Club said it now expected revenues lost from the pandemic

Read More

Committee adjourns on eve of deadline to repeal bailout law | National politics

Rep. David Leland, the ranking Democrat on the House committee, has been pushing for action before the Thursday deadline for weeks.

“House Republicans are going to let October 1st go by without doing anything to stop this ratepayer rip-off,” Leland said in a statement this week. “That means, in the middle of a global pandemic and an unemployment crisis, House Republicans are going to make hardworking Ohioans pay more on their utility bills.”

Leland also criticized that proponent testimonies for the repeal bills are from the same entities that testified for the bill’s passage last year.

Newly elected House Speaker Bob Cupp, who created the committee last month, said he wants to untangle the legislation “expeditiously” but also with care, as to prepare for any ramifications of the repeal.

The only way for lawmakers to ensure their constituents do not see the additional fee on their electric bill in January

Read More

Greater Cleveland Partnership calls for repeal of Ohio nuclear bailout law

CLEVELAND, Ohio – The Greater Cleveland Partnership is calling on Ohio lawmakers to repeal and possibly replace House Bill 6, the $1.3 billion nuclear plant bailout law that federal authorities say was the product of a massive corruption scheme.

“We recommend a repeal and replace stance on HB 6 to remove the alleged stain of corruption on the law and to enable the restoration of the energy efficiency programs supported by our members,” said Joe Roman, President and CEO of the GCP. “Our membership continues to encourage policies that provide incentives for businesses to leverage energy programming to foster growth. We recognize a level of flexibility may be needed to meet those goals, reverse HB 6, and balance Ohio’s energy environment. Extending the use and access to nuclear power may be appropriate, but policy must harness additional solutions that exist and look toward emerging sources.”

The statement was approved

Read More

Qatar Airways Receives $2 Billion Government Bailout

The Qatari government has given a QR7.3 billion ($2 billion) bailout to its loss-making airline Qatar Airways, to help it through the multiple crises it is facing.

It matches the $2 billion in support the Dubai government gave to rival airline Emirates last month to help it weather the shutdown of most international air travel as a result of the coronavirus pandemic.

Like Emirates, Qatar Airways has had to deal with the healthcare emergency, but on top of that it has faced the ongoing boycott of its home country by neighbours Bahrain, Egypt, Saudi Arabia and the UAE since June 2017. That has forced the airline to cut lucrative routes to those countries

Read More

Government Foreclosures Bailout

We all know that government grants are a method for the residents of a rustic to get free cash from the tax payers, but the query is what’s the entire level of doing that? Obama has already launched legislation to take away non-public lenders from student loans which would now all be supplied by the federal government instantly, in order that it could choose in a totalitarian manner who receives the loans and who does not. The federal government spends several occasions as a lot on entitlement applications alone as on protection.

We can let this debate descend into kindergarten recess accusations or return to the only most vital concern going through America immediately: Please defend your viewpoint that Mr. Obama is not an anti-American communist who is proceeding to dismantle the greatest nation on Earth.

To the general public the well known and highly effective members of the Council … Read More

Government Debt Elimination – Advantages and Disadvantages of Government Bailout Programs

Government debt elimination seems the most suitable option for people who are tired of pending bills. However, do you know that you should measure the advantages as well as disadvantages of this option? You are making a mistake if you are only looking at the brighter side. Have a glance at the negative factors as well. At the moment, you cannot pay your actual bills because of financial complications. You have to pay according to your financial scalability. What are the pros and cons of government debt elimination? Let’s look at the details explained in the following points.

Advantages of government debt bailout programs

The following can be termed as the pros of government debt elimination

1. This method not only reduces your credit card bills but reduces them legitimately. There are no illegitimate factors attached with the debt settlement procedure.

2. You can forget about the sum that has … Read More